Limp Bizkit backstage at a Chicago show in September 1997.Photo:Paul Natkin/Getty
Paul Natkin/Getty
Limp Bizkitis suing Universal Music Group (UMG), alleging the label owes the band over $200 million.
Limp Bizkit at the Kerrang! Awards in London.Yui Mok/PA Images via Getty
Yui Mok/PA Images via Getty
While the band has sold over 40 million records throughout their career, the complaint alleges that UMG wasn’t paying royalties because the band’s account was “unrecouped,” which means the royalties still don’t exceed the advances received to record and support the album.
The complaint alleges that upon contacting UMP, the label discovered over a million dollars in unpaid royalties — dating back to the height of the band’s fame in the late ’90s to early ’00s — and simply “failed to alert" Limp Bizkit, claiming the label “intentionally” concealed the true amount the rockers had made to “unfairly keep those profits for itself.”
The claim that the band still have not recouped their advances is being called into question, with the complaint alleging that “UMG should have started paying royalties on those albums right away — not over 20 years later.”
Limp Bizkit on tour in Germany.Brill/ullstein bild via Getty
Brill/ullstein bild via Getty
The complaint further goes on to suspect that “hundreds” of the label’s artists may be experiencing the same thing.
UMG’s accounting practices are pointed out in the suit, with attorneys claiming unknown charges such as an additional $199,676 appear on statements to “overdraft” the band’s account. UMG eventually released $1.03 million to the band and an additional $2.3 million to Durst’s Flawless Records, but the complaint alleges more money is owed.
From July to August, Limp Bizkit embarked on aNorth American tourwith support from BONES, N8NOFACE, and Corey Feldman.
source: people.com